by Adam Button
slipped after UK Prime Minister Boris Johnson was moved to the intensive care unit for coronavirus treatment, but the broad risk trade remained strong on optimism with slowing growth in the number of coronavirus cases. The was the top performer while the lagged. As both and rally, the Gold/Silver ratio has fallen to as low as 107 from high 120s, when that famous ratio chart was posted 2 weeks ago here.
A statement from 10 Downing said PM Johnson was taken to the ICU for precautionary reasons and that foreign minister Dominick Raab had been deputized to handle the PM’s duties. Cable quickly fell 80 pips to 1.2215 on the report but held the lows from earlier in the day on the report in the Russian press that he had been intubated.
In the U.S., the rallied 7% and broke around a cluster of resistance at 2650. That level was the late-March high and the 38.2% retracement of the coronavirus drop. A Fox Business news report…